Tomas increased his consumption of potato chips when the price of pistachios increased. For Tomas, potato chips and pistachios are
A) both luxury goods. B) substitutes in consumption.
C) both inferior goods. D) complements in consumption.
B
Economics
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What will be an ideal response?
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When a binding price floor is imposed on a market to benefit sellers, a. no sellers actually benefit
b. some sellers benefit, but no sellers are harmed. c. some sellers benefit, and some sellers are harmed. d. all sellers benefit.
Economics
To move from gross domestic product (GDP) to gross national product (GNP), one must:
A. add depreciation to GDP. B. subtract depreciation from GDP. C. add net foreign factor income to GDP. D. subtract net foreign factor income from GDP.
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How much is the MPC?
Economics